Vietnam’s draft Corporate Income Tax (CIT) Law proposes changes to incentive eligibility, taxation on capital transfers by foreign investors, and aims to address limitations hindering integration with international best tax practices. Investors and businesses planning market entry or expansion should closely monitor the draft CIT law’s development and prepare for potential impacts on their strategies … Read more
Oman’s Shura Council has forwarded a draft law on personal income tax to the State Council, a move that suggests the idea is gaining momentum in the sultanate. BloombergOman’s Shura Council has forwarded a draft law on personal income tax to the State Council, a move that suggests the idea is gaining momentum in the … Read more
Fact: The global minimum tax mandates large multinational enterprises to pay a minimum tax rate of 15% in each country where they operate.
Debtors will have a new opportunity to join a plan for the settlement of overdue debts in installments, as proposed by the EDEK and DIPA parties. The Tax Inspector will be able to accept and examine applications for the plan, with a deadline set until December 31, 2027. The Tax Department anticipates individual, rather than mass, requests for inclusion in the plan.
Georgia’s parliament approved a bill on “foreign agents” that requires organizations receiving more than 20% of their funding from abroad to register as agents of foreign influence. The bill has caused a political crisis in Georgia, leading to large protests in the country. President Zourabichvili advised protesters to focus on the upcoming election to change the government. The bill has been criticized as being inspired by Russian laws used to suppress dissent. The European Union has condemned the violence in Georgia, and the bill could affect Georgia’s integration into the EU. Police used tear gas and stun grenades to clear protesters outside parliament. The bill must pass one more vote before becoming law.
The Ministry of Health has submitted a draft law for legal scrutiny to establish the Patient Advocate institution in Cyprus. The Health Minister mentioned that various draft laws concerning rehabilitation centers, university hospitals, paramedics, palliative care services, and more are also in the works and will be submitted to Parliament within 2024.